|Ensuring that the right project
portfolio is selected and that work will be done in
the right order, with appropriate priorities and
with objectives aligned with the corporate
objectives ensures that the best is made from the
Selection - a Pitfall
Are we running the best possible project portfolio?
Oliver F. Lehmann, PMP
The double work project
It was at a major IT company where I have been doing many
trainings, that somebody told me the following story:
A project had been set up to research what kind of activities are
done twice in the company by different business units. The company
management expected that identifying and avoiding double work
instead of again and again re-inventing the wheel could contribute
to major cost savings.
team spent months on research in the company, and in point of fact,
they found many identical or very similar activities, and some of
them have not only been done twice but even three times and more. A
great potential to cut costs and free resources by streamlining
processes, re-defining responsibilities and organizational
interfaces and re-thinking the corporation's project portfolio.
Then, the group experienced a big surprise: There was a second
project run by another organizational unit; and this project had the
same purpose: Identification of double work.
Optimizing project portfolio management
Well working project portfolios are key to company success.
Ensuring that all important work is selected and will be done in the
right order, with the right priorities and with objectives aligned
with the corporate objectives ensures that the best is made from the
Insight Tree can optimize a decision with multiple options taken
against a predefined budget constraint. Read the
article on Nonlinear, constrained optimization to learn how to
make the best selection with the highest pay-off from a list of